Selling a home for the first time is an overwhelming experience. Although there are some emotions involved, for most people, the major focus is on maximizing the profit potential of the deal.
Every smart homeowner would search for some online advice before jumping into it. As you search for helpful content, there is some good and some not-so-good information out there. If you are feeling confused about what to focus on, here is a brief guide for selling a home for the first time.
Consider These Tips Before You Sell A Home For The First Time
- 1- Start With An Appropriate Listing Price
- 2- Prepare Your Home For The Listing
- 3- Work Through The Finances Of Selling A House
- 4- Think If The Time Of The Year Is Perfect For It
- 5- Don’t Fall For The Cheapest Agents
- 6- Be More Flexible
- 7- Set Up An Open House
- 8- Get Your Property Professionally Photographed
- 9- Review Your Listings
- 10- Be Available And Transparent
Whether you are a homeowner selling your property or a fresher real estate agent, this is going to be super helpful.
1- Start With An Appropriate Listing Price
The most important step of selling a house is to set up an appropriate listing price. Although your main concern is to get the best price for your property a bad listing can ruin your chances altogether. The best approach is to seek assistance from a real estate professional at this phase.
Determining a fair listing price for a property is the whole process. A professional can do it much better as they know every factor playing a role in the listing price. Keep in mind overpriced homes are a major turndown for buyers!
2- Prepare Your Home For The Listing
Setting a price is a major part of listing your house but far less important than how you showcase your property. How you present your property to the buyer is going to set the tone of further negotiations. Although as a property owner you understand the strengths and weaknesses of your property better than others, consult a professional to prepare your home for listing.
According to real estate professionals, properties with attractive curb appeals tend to sell faster and at better prices. Moreover, declutter your house as you set it up for sale. The buyers need to imagine living themselves living in the house so provide them a clean and clutter-free space.
3- Work Through The Finances Of Selling A House
Yes, it may not have occurred to you but selling a house is also an expensive process. You need to be in a good financial state to list your house. You need to go over all the fees associated with the sales. If you hope to get some profit from the deal, you have to bring some money to the table. It’s good to know the numbers ahead of time to avoid inconvenience.
You need to find a reliable and experienced professional to know all the details and work out a budget. Start with an estimation of home value and minus your home equity. There will be closing costs, agent’s commissions, fees, and taxes.
4- Think If The Time Of The Year Is Perfect For It
There are times of the year when selling a home is a great idea and then there are some when it’s not. The so-called perfect period varies depending on weather, state of the real estate market, local community, and time of the year. Pay attention to the laws of demand and supply to get the best prices for your property.
If you want to get the best price, list your house at the time of year when interest rates are low. It needs a pretty great stroke of luck to get a good or even fair price of the house if you are not taking these factors into account. And yes here is another important lesson to learn, don’t rush into it.
5- Don’t Fall For The Cheapest Agents
There are more than two million real estate agents working in the US right now and not all of them are great. Actually, finding a reliable real estate agent is something that does not happen overnight. Make sure you are doing enough research before hiring an agent. Conduct thorough interviews with them, ask all of the questions you have and verify if they are legally complied with to handle real estate transactions.
Ask around for some reliable names and your search may get easier. A lot of first-time sellers make the mistake of hiring the cheapest agent they can find, all in the quest to get the best possible price. Don’t fall for this trap and keep in mind that you only get what you pay for.
6- Be More Flexible
Don’t be very rigid while you are going through this pretty chaotic phase. There are so many variables in such a process so it’s best to be more flexible. The first and foremost thing you may not like to do is to move out of your house even before you close the deal. Be prepared to let your privacy guard down and hone your communication skills.
7- Set Up An Open House
An open house is a great way to showcase your property. Let the potential buyers take a walk through it. Although hosting open houses is not a great idea for every property but if you are trying to sell your home fast, it works pretty well. Visibility plays a crucial role when you are selling your home and hosting an open house increases your chances drastically.
8- Get Your Property Professionally Photographed
Getting your property professionally photographed is extremely important. You are not going to do great without high-quality images and videos of your house. In most cases, real estate agents take over the task of getting it photographed. If that is the case, let them know your preferences.
9- Review Your Listings
It is best to review your house listings even if you are working with the best local realtor in your area. See if these listings are conveying accurate information. It will help you identify missing features and contact errors.
10- Be Available And Transparent
It is normal to get caught up while you are all set to sell your property but the best advice anyone can give is to be available. Respond to offers promptly to not lose any of the potential customers. But then again rushing into the first offer is also not a smart thing to do.